How long after the initial exchange does a taxpayer have to identify replacement property in a like-kind exchange?
A) The like-kind property to be received must be identified within 45 days.
B) The like-kind property to be received must be identified by the earlier of 45 days or the last day of the taxpayer's taxable year.
C) The like-kind property to be received must be identified within 180 days.
D)There is no deadline for the identification of replacement property.
E)All of these

Question

Quizplus · Accepted Answer

According to the Internal Revenue Code, a taxpayer must identify the like-kind property to be received within 45 days of the initial exchange.

How Long After the Initial Exchange Does a Taxpayer Have